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UK Retention Deposit Scheme

Construction retentions

Retention, held apart from the payment chain.

The UK Retention Deposit Scheme holds construction retention in a safeguarded retention account at the Bank of England, one account per contract, until the contract says it is due.

Open an accountHow it works
The payment chain, with the retention held apart from itPayments run from the employer to the contractor and from the contractor to the sub-contractor. The retention each payer withholds is deposited in the contract's safeguarded retention account, which sits outside the chain.paymentpaymentEmployerContractorSub-contractorRetentionsafeguarded account
The retention is held apart from the payment chain, in the contract’s safeguarded retention account.
All retention held liquid and unencumbered at the Bank of EnglandOne safeguarded retention account per contractHeld under published Scheme RulesOperated by DOS & Co. Ltd

Why UK Retention Deposit Scheme

Published scheme rules

Every account is held under the Scheme Rules, published as a versioned document.

Released as the contract specifies

When the contract's release conditions are met, a Release Notice is made through the portal and the funds are released.

Open a retention account

Online, one account per contract.

Open an account